Brentwood Place

Brentwood Place is a multi-level urban retail center located in West Los Angeles in the prestigious community of Brentwood, California. Tenants include Ross Dress for Less, Sav-On Drugs, Starbucks, Rubio's Fresh Mexican Grill, Cingular Wireless, Fatburger, and Jamba Juice.

A Champion Development project, Brentwood Place was not a traditional retail asset. The property had a multi-level parking structure situated above the retail space and recently (prior to the marketing of the property) experienced the vacating of high profile tenant Starbucks Coffee; one of the first times a Starbucks had closed its doors. Also, the existing debt on the property was extremely unattractive. It was well above the current rates at the time; requiring the buyer to place a large amount of equity into the acquisition and thus realize very low initial returns.

Our team identified a long-term investor who recognized the value in a long-term hold, despite the initially low returns. With the assistance of our team's consultation and advisory, the buyer grew comfortable with the overall yield and regarded the transaction as fair for such a recognized trophy asset.

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